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Shiba Inu (SHIB) has been making headlines in the cryptocurrency world as its recent rally has captured the attention of traders and investors alike . The token, which was launched as a meme coin, has seen an impressive surge in value over the past few week, with many attributing this growth to the launch of Shibarium.

The Shibarium platform, which is set to launch soon, is expected to provide a decentralized exchange and other DeFi services for SHIB token holder . This launch has caused a lot of excitement in the community, with many predicting that it could be a game-changer for the token's future .

However, before the launch of Shibarium, SHIB must first pass a critical test . The token is currently testing the 200-day MA, a key level of support that could determine whether prices will continue to rise or break down . Traders are watching this closely, with many waiting for a decisive signal on whether SHIB will bounce or break down .

Despite this uncertainty, on-chain indicators suggest that the worst of the sell-pressure is likely over . Net Transfer Volume has steadily decreased throughout February, and the Balance of Exchanges has seen a 5.4% reduction in on-exchange balances of SHIB . These indicators suggest that supply is being accumulated and removed from exchange ahead of the Shibarium launch, which could provide a boost to price .

Additionally, the recent surge in SHIB's burn rate has led analysts to suggest a big comeback is inbound . The burn rate, which refers to the number of tokens being removed from circulation, has increased by 1,000% in a matter of hour . This development has been seen as a positive sign for SHIB's future, as it indicates that token holders are actively reducing the token's supply .

Overall, the current Risk: Reward ratio for SHIB is 3.55, making it an attractive entry point for traders . The downside risk seem limited, and the potential for upside is significant if prices do bounce off the 200-day MA . If the launch of Shibarium is successful, it could be the catalyst for SHIB's continued success, providing new opportunities for token holders and driving prices even higher .

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In conclusion, the future of SHIB remains uncertain, but there are many reasons to be optimistic . With reduced sell-pressure on exchanges, the upcoming launch of Shibarium, and the recent surge in the token's burn rate, SHIB could be poised for continued growth .

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